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Let’s speculate – Supose “the Merge” has occured, what would you do?

**The premise**: Supose we are at a point in the future in where “the Merge” has occured, ETH is no longer minable, and you have to decide what to do with all your GPU processing power. Would you sell your hardware? Would you mine other coins? What would happen to ETH?

I’m curious what would the people do.

**My take**: I feel like “the Merge” would let down a lot of miners who wouldn’t want to keep their ETH anymore. More over, keeping your ETH would be risky, since such a change would lead to market fluctuation. But what if there’s another minable coin with potential marketability that even if every ETH miner started mining it, we wouldn’t reach the point where it is no longer profitable to mine it for at least 4 years. Moreover, what if all ETH miners exchange their ETH for that coin, making it way more valuable, becoming a global movement, and letting the world know that thousands, if not millions of people are betting on this coin over ETH. That would probably reduce the value of ETH drastically while increasing the value of this new coin, along with its “prestige”, making us all miners a bit more wealthy.

But… would we be at the starting point again? A new popular minable coin with a PoW that contributes to global warming? Funny how every other industry contributes to global warming, but thanks to their legal & marketing teams, and their relationship with governments, we don’t even hear about them. Might it also be because governments/conventional media doesn’t like the “decentralization” concept? Maybe the ETH organization doesn’t like the concept either. PoW is part of the “decentralization”, if you implement Prove of Stake, you’ll just be acting like public companies do. Who holds the most amount of shares gets the most amount of rewards. And moreover, if you don’t hold a sufficient amount of shares, you don’t even get rewards (!?). Where did the “decentralization” go? Any thoughts on this?

**Disclaimer**: This is an imagination/speculation exercise/discussion, you shouldn’t take anyone’s input seriously, including mine. Have some fun, express yourself, enjoy the thread!

What do you think?

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7 Comments

  1. There is this common misconception that cryptocurrencies are successful soely due to mining, and I think many miners will end up disappointed when their “gotcha” moment never shows up. Miners tend to overestimate their own importance, and thinks that if it can’t be mined, it can’t be successful. That’s sadly the conseqence of miners often being poorly educated on how cryptocurrencies work and what must change to meet future demands (or even current demands for that sake).

    From a technical perspective, I’d dare to state the opposite. Miners are the limiting factor in terms of cryptocurrency adoption, and the obvious reason why ETH is going PoS is due to the fact that miners are standing in the way of ETH becoming a more consumer-friendly, green and performant currency. The network is mostly at the limit of what it can do, and the slow throughput in addition to high gas fees, though a blessing to miners, are the main bottlenecks in terms of ensuring that ETH one day becomes something more than mainly a speculation coin. While I understand that greed is one of the reasons why many don’t want PoS to be implemented, I think it’s worth considering the fact that ETH probably won’t have a future if the essential problems related to performance and efficiency aren’t addressed.

    While PoS does have its own flaws, the solutions it introduces are pretty much essential to the continued relevance of Ethereum. We can’t deny that a [99% efficiency increase](https://spectrum.ieee.org/computing/networks/ethereum-plans-to-cut-its-absurd-energy-consumption-by-99-percent) is extremely important today, in addition to the benefits of sharding. This is pretty much neccessary to keep the network relevant for the future.

    So post-merge, I think many will stick with Ethereum. When sharding is implemented, we’ll probably have one of the fastest and cheapest chains among them all considering its size, and users wanting the lowest transaction fees and the fastest transactions won’t benefit much from using other chains.

    Again, proof-of-stake isn’t perfect, but in the world of technology you have to consider the compromises which lays the best groundwork for success tomorrow, not neccessarily the ones which only keeps you afloat today.

  2. Lol, I love this delusion that once Eth goes proof of stake, all the miners switching to RVN or some other coin are gonna suddenly be the force that makes that altcoin the new #2 cryptocurrency. It gives mining way more credit than it deserves.

    If anything after Proof of Stake, all altcoins that use PoW instead of PoS will just continue going down the crapper. PoS is the future, PoW will never gain widespread approval aside from Bitcoin. Ethereum will end up passing Bitcoin because of PoS.

  3. Decentralization was a fantasy that could never be realized, especially when big businesses get into the market.

    You talk about “miners” and “people”, crypto is already overtaken by big mining farms and billionaire investors or investment groups. Those are industrial scale operations. In such environments mergers, acquisitions, takeovers, happen al the time. In the end it leads to monopoly or leaves just few player who dictate the market. It is inevitable.

    Second, at the moment the only future for GPU mining is most businesses getting out of it. That’s right, if 90% of GPU’s gets out of the business, then maybe altcoins will be able to absorb rest of ETH’s hashrate a luckily stay somehow profitable.

  4. The global warming argument is idiocy and misinformation at its best. Global warming has always and will always have much more to do with solar cycles and the environment of outer space than cow farts and computers. That’s not to say we should be poor stewards of our own planet, but the politicking and fearmongering have gotten quite out of hand.

  5. My concern is that the ETH network premise is built on participation and utility. Tokens, DeFi, Chainswaps, etc. Currently miners are actively engaging freshly minted coins in to the ETH network, think of them as the Fed pumping liquidity in to the economy. When POS goes in to effect staked coins stop circulating and participating, miners stop pumping activity in to the network, participation and utility decrease.

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